13-11QUALIFIED TARGET INDUSTRY TAX REFUND
LOCATING IN AN ENTERPRISE ZONE
AND BROWNFIELDS REDEVELOPMENT BONUS REFUND
WITH CASH LOCAL FINANCIAL SUPPORT
RESOLUTION NO. 13 -11
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA, RECOMMENDING PROJECT
POOF, BE APPROVED AS A QUALIFIED TARGET INDUSTRY
BUSINESS PURSUANT TO S.288.106, FLORIDA STATUTES;
AFFIRMING THE SITE OF THIS PROJECT IS IN A
DESIGNATED BROWNFIELDS AREA AND DESIGNATED
ENTERPRISE ZONE; PROVIDING FOR LOCAL FINANCIAL
SUPPORT IN THE FORM OF CASH; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the business under consideration is a corporate headquarters for
Project Poof; and
WHEREAS, Project Poof has been identified as a Target Industry Business; and
that the Council hereby recommends Project Poof be approved as a Qualified Target Industry
Business pursuant to s.288.106. Florida Statutes; and
WHEREAS, Project Poof intends to locate in the City of Clearwater Downtown
Business District; and create two hundred new full -time jobs over the next three years,
qualifying as high -value added jobs; based on the State of Florida Incentives Average Wage
requirements effective January 1, 2013; and
WHEREAS, the site is in a Florida Department of Environmental Protection
Designated Brownfield Area, BF529701000, within the City of Clearwater, and the site is
identical to the Environmental Protection Agency (EPA) designation for the Brownfields
Initiative; and
WHEREAS, as a result of this location, Project Poof is eligible to apply for the
Qualified Target Industry Tax Refund with a Brownfields Bonus; pursuant to s.288.107; and
WHEREAS, THE CITY OF CLEARWATER will contribute local financial support
in the form of cash for the Qualified Targeted Industry Tax Refund with Brownfields Bonus; and
WHEREAS, as a result of this location, Project Poof is eligible to apply for the
Qualified Target Industry Tax Refund for the City of Clearwater Enterprise Zone #5202 location;
pursuant to s.288.106(3)(b)1., Florida Statutes, and will contribute local financial support in the
form of cash for the Qualified Targeted Industry Tax Refund for an Enterprise Zone location;
now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CLEARWATER,
FLORIDA:
Section 1. Florida Statutes Section s. 288.106 requires 20% local financial participation as tax
refunds become due; and the necessary commitment of local financial support has been
identified in the amount of $500,000, consisting of 50% of the local contribution coming from
Pinellas County and 50% coming from the City of Clearwater. A cash commitment exists for
Project Poof for the City of Clearwater local financial support for the Qualified Target Industry
Tax Refund Program in the amount of $250,000, including $100,000 for the Qualified Target
Industry Tax Refund, $50,000 for the Brownfields Bonus Refund, $60,000 for the Enterprise
Zone location, and $40,000 Designated High Impact Sector. However, in no event will the total
contribution of the City of Clearwater for Project Poof exceed $250,000. This amount will be
made available in accordance with the guidelines set forth by the Department of Economic
Opportunity with the stipulation that these funds are intended to represent local financial support
pursuant to s.288.106, Florida Statutes.
Section 2. This resolution shall take effect immediately upon its adoption.
PASSED and ADOPTED this 6th day of June 2013.
Countersigned:
'. C1 go /l, ct `e kos
George N. Cretekos
Mayor
App oved as to form:
Leslie K. Dou• Sides
Assistant City orney II
CITY'' OF F CLEARWATER, FLORIDA
By: h
William B. Horne II
City Manager
Attest:
•
marie CaII1
City Clerk
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